Against the backdrop of the appreciation of the US dollar versus the Turkish lira, rebar spot prices in the Turkish domestic market have been revised upward. Activity over the past two days had been on the strong side, supporting the upward movement of prices, but demand for new offers has weakened after the latest price increases.
Meanwhile, having received demand for 3,000 mt of rebar so far, local steelmaker Kardemir has not yet closed its domestic rebar sales, which it had opened on February 18 at the price level of TRY 1,240/mt ($561/mt) ex-works, excluding VAT.
As of today, February 20, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) 14.2.2014 |
Marmara | 8 mm | 1,495 | 573 | +5 |
Marmara | 12 mm | 1,475 | 566 | +5 |
Iskenderun | 8 mm | 1,480 | 568 | +5 |
Iskenderun | 10 mm | 1,470 | 564 | +5 |
Iskenderun | 12 mm | 1,460 | 560 | +5 |
Izmir | 8 mm | 1,470 | 564 | +5 |
Izmir | 10 mm | 1,455 | 558 | +5 |
Izmir | 12 mm | 1,445 | 554 | +5 |
Karabuk | 8 mm | 1,490 | 571 | +5 |
Karabuk | 12 mm | 1,470 | 564 | +5 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.21